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MBA in United States: An Overview


Categories : MBA in USA

The Cola you are drinking, the Jeans you are wearing, the Phone you are using, the media you are consuming (mass and social) - most of them have become an inseparable part of our lifestyle because of United States’ unquenching thirst to dominate world markets. Thomas Paine’s “Commonsense” which became the triggering literature for America’s independence has a line that summarizes the Entrepreneurial spirit of the Wild West, “Let us build; if we want them not, we can sell; and by that means replace our paper currency with ready gold and silver.”

The first part of the sentence – “Let us build; if we want them not, we can sell,” is the reason why despite emerging economies finding cheap labor, world’s trade is led by the US.

Gold’s reserve in percentage of Forex currency is 76% for the US – the highest in the world - a reason why USD (United States Dollar) is still the most traded currency in the world. No other currency offers the stability that USD could, even to such an extent that countries are willing to use USD as an unofficial currency. Crude and Oil are traded for USD; and so are the exchange rates of currencies pegged against.

America’s dominance to a large extent is cultural. One statement that binds the poor, the middle class and the wealthy in unison is that “The Fate of my life is in my own hands.” The statement might seem outrageous for a risk-averse country like Japan where slow customary actions within the boundaries of tradition and society are encouraged over varied individualism. Individualism is encouraged in Europe but only if you acquire wealth within the confines of an egalitarian culture. It is only in America where every class of the society feels that one deserves exponential rich according to their risk-taking ability.

Despite a socialist movement in 2016, a Billionaire won the election. The...


Kellogg MBA Salary Job Function & Industry (2017)



Kellogg MBA candidates chose consulting over technology by a big margin (11%). Financial Services is at a distant fourth, just below consumer products. Health Care, Real Estate, Petroleum/Energy, and Retail complete the lower end of the spectrum.

Kellogg MBA Salary by Industry
 
Kellogg MBA program is a favorite for candidates interested in switching careers to Consulting with a third joining the job function while 20% found Marketing/Sales as the preferred vocation. Like industry, financial services were at a distant third. In terms of compensation - Consulting, Finance, and Technology were neck and neck – all hovering around the $145k to $160k range. General Management, Operations, Strategic Planning and Information Technology found single digit representation in the latest Kellogg MBA Class.

Kellogg MBA Salary by Function

Reference:
Kellogg MBA Employment Report


TRIUM EMBA VS Chicago Booth Executive MBA


Categories : Executive MBA

A multi-campus structure is a valuable networking and learning opportunity for executives seeking a degree in General Management. Unlike Chicago Booth Executive MBA program, TRIUM EMBA is jointly offered by London School of Economics, HEC Paris, and NYU Stern School of Business.

Let us compare the two programs on Class Profile, Curriculum, Locations and Schedules, Experiential Learning, Ranking, and Fees.

CLASS PROFILE

TRIUM Global Executive MBA program attracts older applicants with over 15 years of experience. Chicago Booth class size is four times larger with the students spread across three campuses. The nationalities represented in the class is also high (51) compared to 30 that TRIUM EMBA attracts.

The small class size in TRIUM Global Executive MBA builds a much stronger bond among the class compared to Booth where only 1/3rd of the schedule is allocated for the entire 240+ students to collaborate.

The average year of experience for the TRIUM EMBA class is 15 against 12 for Booth. Since a large part of the MBA experience depends on peer-to-peer learning, each year added to the average age of the class adds to the overall learning experience of the class.

Your ability and motivation determine the effectiveness of your networking. However, a 240+-class size is a definite advantage for Booth. The geographic spread and the vast alumni network associated with Chicago Booth provide executives the opportunity to attract the right talent for start-ups or within their own organization.

TRIUM leverages the alumni network of the three schools, increasing the reach of the Alumni, but brand loyalty is a factor that influences recruitment and opportunity sharing. Three-school collaboration in TRIUM would not attract the same loyalty as being part of a Chicago Booth Alma matter.

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New York Fashion Industry (2017 Snapshot)



First promoted, in 1943, as Press Week, by Eleanor Lambert, the New York Fashion Week was an attempt to position New York as an alternative fashion capital to the dominant Haute Couture in Paris where high-end fashion was a symbol of exclusivity. Only Queens in the 17th Century France had access to custom design and fit, made with hours of detailing and delicate patterns.

With the World War 2 limiting the American audience in Paris, Eleanor found an opportunity to push local designers to the forefront. American designers worked in poor working condition and found it hard to compete with the established French. Eleanor tried hard to bring in International fashion editors to the show, but when all attempts failed, she paid local newspapers to cover the event, paving the way to the Fashion Weeks in February and September. Now, just for the fashion shows and related events, the city attracts over a million visitors annually. The fashion weeks in February and September each year generates over $900 million in total sales, the highest in the US for one event

New York City is the fashion capital of the world hosting 900 fashion houses with an annual sale of $15 billion. The publication industry is another thriving sub-sector of fashion with three major publications – Vogue, Harper’s Bazaar, and Women’s Wear Daily originating from the City. However, the majority of production in the industry is done in China, Vietnam, Bangladesh, Mexico, and Indonesia. The value that the City generates is through research, design, prototyping, branding, marketing, and sales.

Nearly 2 million people in the US work in the Fashion industry with the majority employed (80%) in apparels serving a domestic market size of $385 billion and a world market of $3000 billion. Sales and Marketing professionals take in an average of $84,600...


Columbia MBA Salary Job Function & Industry (2017)



After the Financial Crisis of 2008, MBA with Finance was not a popular option. The aspiring applicants were looked down upon as potential criminals. Hiring was frozen, and the job markets had a 5-year lull, before picking up again in 2014. The 2016 class representation shows the comeback with 36.9% selecting Financial Services. The Median Signing Bonus is the highest, and the total median salary for the group has crossed the $175,000 range.
 
Columbia MBA Salary by Industry

In terms of function, consulting was neck and neck with Financial Services, both taking up 38% class representation. Marketing and General Management was the other two popular job functions. Leveraging the media buzz in New York, nearly 10% of the class chose Media/Technology. Since the majority of Entrepreneurial activity in New York is at disrupting media with technology, MBAs leveraged the location advantage.
 
Columbia MBA Salary by Function

Reference: Columbia MBA Employment Report


Cornell Full-time MBA Salary Job Function & Industry (2017)



The total median salary for a Cornell 2-year MBA student is at an impressive $152,132 - higher than Columbia and Stern – two competitors in New York; mostly contributed by the large percentage of the class choosing Financial Services (32%) with a total mean salary of $165,434. As expected, consulting was the second popular industry (25%) and Technology at third (12%).

Cornell MBA Salary by Industry
 
Finance has made a comeback with 33% of the class finding offers in the job function, earning $42,086 as signing bonus while consulting and General Management was at 2nd and 3rd position respectively, preferred by over 1/5th of the class each.
 
Cornell MBA Salary by Function

Reference: Cornell 2-year MBA Employment Report


Harvard Full-time MBA Salary Job Function & Industry (2017)



For the Class of 2016, the median Base Salary was $135,000 with a quarter of the class earning a median salary of $118,000 and the remaining 75% earning $147,000. Financial Services overtook Consulting by $5,000 to attract the best pay package of $150,000 median base salary. MBAs joining non-profit cited the lowest pay at a median base salary of $110,000.

Harvard MBA Salary by Industry
 
When you compare the job functions – consulting leads at $140,000 while Venture Capital/Private Equity takes the second position with $131,875 median base salary.
 
Harvard MBA Salary by Function

The best data point to measure the impact of a top MBA program is the salary by location. For Harvard MBAs, International location fetched only $8000 less than the salary earned in the United States – a factor that makes HBS MBA the most sought after program. For the HBS Class of 2016, the majority (23%) found job opportunities in New York City, followed by California Bay Area (15%) and Boston (14%).

Reference:
Harvard MBA Employment Report


California Life Sciences Industry (2017 Snapshot)



California Life science industry is out shadowing the nearest competitors - Massachusetts and New York by a big margin. The 3040 life science companies brought in revenues of $147.7 billion (2015), directly employing over 287,000, while building an eco-system of nearly 800,000 consultants, marketers, and software developers.

The spurt in growth can be attributed to VC funding, with life sciences second only to technology, bringing in $4.5 Billion in 2016, while nearest rival - Massachusetts could only attract $2.7 Billion.

Education is one of the big drivers of government funding into research. California is #1 in Life Science education, contributed by 11 top universities in the Top 100 universities in the world. The State graduates the most number of Science & Engineering PhDs. The supply of some of the best minds in the world attracted over 7000 National Institutes of Health (NIH) grants that totaled $3.6 billion.

California Life Sciences NIH Funding

The entrepreneurs, government agencies and the regulators work in tandem to bring the products to market with the chunk of the therapies dedicated to Cancer (404), followed by Infectious Diseases including HIV(129), and Central Nervous System disorders(129) completing the bulk of the innovation. Another emerging sector is the Digital Healthcare sector with Wearables and Bio sensing attracting the most investment ($380 million).

Digital Healthcare – Top Investments

California Digital Healthcare Top Investments 2017

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Stanford Full-time MBA Salary Job Function & Industry (2017)



Finance overtook Consulting to attract the highest median base for the Class of 2016.

Stanford MBA Salary by Industry

The lowest median Salary by industry went to Consumer Packaged Goods, followed by Transportation and Logistics Services, Healthcare, Media/Entertainment, and Real Estate. As expected, the highest signing bonus went to Finance and Consulting, taking them to the top of the tally for Total Salary (Median) as well. 

Stanford MBA Salary by Function
 
The return of Finance job function as the favorite after the 2008 financial crisis has finally reached full momentum when 32% of the class opted for the function. PE (Private Equity) Analyst earned the largest base salary ($200,000). The $20,000 signing bonus and $100,000 in other guaranteed payments, takes the total salary to over $300,000; almost instantly getting the cost of the Stanford MBA program back within a year. Of course, with a higher pay, lifestyle needs changes, stretching the ROI period to a feasible 3.5 years.

Understandably, PE and Investment Management have the most competition. 

Reference: Stanford MBA Employment Report


Berkeley Full-time MBA Salary Job Function & Industry (2017)



The total salary (median) for Berkeley Full-time MBA program is $10,000 short of Stanford, but the salary for consulting is comparable to any top MBA programs. Despite the lower salary in Retail, the industry was the fourth favorite among Haas students. Technology – the strong point of California was also the strength of Berkeley with nearly 40% of the class entering the industry.

Haas MBA Salary by Industry
 
As a function, interestingly, Marketing was the clear winner (27.3%) followed by Consulting (20.8%) and General Management (18%). Berkeley Full-time MBA program is the few top programs still managing to offer General Management program.

Haas MBA Salary by Function

Most top Business Schools have picked Finance or Consulting as a popular specialization, based on the close network they have developed with recruiters. 

Reference: Berkeley MBA Employment Reports